A customs bond is needed for all formal entries. US customs requires a bond to protect the revenue and ensure compliance. Importers must post a bond to make sure that all import rules and regulations will be followed, specially payment of import fees and duties.
There are two main types of entry bonds:
- Single entry bonds for ISF and customs entries
- Continuous bonds
Single entry bonds are typically issued for importers who have one or two import shipments per year. A single entry bond covers only the ISF or the entry being processed and only at the entry port selected. These types of bonds are usually issued for the value of the shipment plus US customs duties and fees unless OGA are involved in the import shipment.
Continuous bonds are usually issued for frequent importers. Continuous entry bonds apply to all ISFs and entries for an importer at any port of entry and are renewable every year.
An entry bond implies that the importer will pay corresponding duties, taxes, and charges, make complete entry, it assures that the importer will produce any document or evidence required by US customs and that the importer will rectify any non-compliance. The bond is also a guarantee to US customs that the importer will respond to examination requests or any request to re-deliver merchandise conditionally released.
At Doral Customs Brokers we will issue ISF bonds and entry bond at the time of preparing your customs entry. Our goal is to offer you fast, easy and efficient customs clearance for all your import shipments.